Captrust Financial Advisors Sells 3,007 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Captrust Financial Advisors reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,532 shares of the asset manager's stock after selling 3,007 shares during the quarter. Captrust Financial Advisors' holdings in T. Rowe Price Group were worth $11,143,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TROW. Vanguard Group Inc. increased its position in T. Rowe Price Group by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after acquiring an additional 135,203 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 5.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock worth $812,798,000 after acquiring an additional 346,369 shares during the last quarter. Fayez Sarofim & Co boosted its holdings in shares of T. Rowe Price Group by 7.6% in the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after buying an additional 425,142 shares during the last quarter. Geode Capital Management LLC raised its position in shares of T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after purchasing an additional 116,231 shares during the period. Finally, Provident Trust Co. boosted its position in shares of T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after acquiring an additional 213,566 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of T. Rowe Price Group stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now directly owns 42,979 shares of the company's stock, valued at $3,935,157.24. This trade represents a 8.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Arif Husain sold 4,112 shares of the company's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $109.27, for a total value of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. The trade was a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Up 0.1 %

Shares of NASDAQ:TROW traded up $0.08 on Friday, reaching $92.74. 958,585 shares of the company traded hands, compared to its average volume of 1,478,345. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The business's 50-day simple moving average is $90.62 and its 200 day simple moving average is $106.26. The stock has a market capitalization of $20.43 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $2.38 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.48%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. TD Cowen cut their price target on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Citigroup decreased their target price on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday, February 6th. Barclays upped their price objective on shares of T. Rowe Price Group from $85.00 to $90.00 and gave the stock an "underweight" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.